Blue Sage exits manufacturer Ligchine

Ligchine is a provider of laser guided boom screeds used for placing concrete.

  • Blue Sage invested in Ligchine in August 2018
  • Blue Sage Capital has been investing in lower middle-market companies since 2002
  • Blue Sage currently has over $400 million of assets under management

Blue Sage Capital has sold Ligchine International Corporation to RAF Industries, Inc. No financial terms were disclosed.

Ligchine is a provider of laser guided boom screeds used for placing concrete. Blue Sage invested in Ligchine in August 2018.

RAF is a Philadelphia-based long-term focused capital provider.

On the transaction, Blue Sage Partner Eric Weiner, said in a statement: “Ligchine is a great example of Blue Sage partnering with founders, augmenting the management team, and investing in growth. Over the last roughly four years Ligchine nearly doubled its sales team to increase geographic coverage and added 3 new models to its product lineup.”

Blue Sage and Ligchine were represented in the transaction by CIBC Cleary Gull (Investment Advisory), Queen Saenz + Schutz PLLC (Legal), Sikich LLP (Accounting) and Cherry Bekaert (Tax).

Blue Sage Capital is an Austin, Texas-based private equity firm that has been investing in lower middle-market companies since 2002. Blue Sage currently has over $400 million of assets under management. Blue Sage typically invests $20 million to $40 million in control buyout investments and recapitalizations of companies with $20 million to $200 million of revenue.